《大行報告》花旗降阿里(09988.HK)目標價至122元 下調上季收入及盈測
花旗發表研究報告指,阿里(09988.HK)10月和11月的零售數據趨勢相對穩定,加上雙十一業績錄得正增長,預計12月份淘寶和天貓的GMV趨勢將進一步輕微改善。不過,隨著淘寶商家在雙十一促銷期間加大宣傳力度,該行料客戶管理收入(CMR)將窄幅回落至920億元人民幣,與去年同期持平。目標價由140元下調至122元,維持「買入」評級。
該行表示,由於直銷趨勢疲弱、焦點重新轉向市場、本地服務的宏觀逆風等因素,該行預計集團2024年第三財季的總收入將按年增6.3%至2,634億元人民幣,又下調其非通用會計準則利潤預測8.8%。該行分別下調2024淨收入及非通用會計準則淨利潤預測1.9%及4.8%,2025年預測降3.4%和6.9%,而2026年則下調4.2%及5.5%。
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